Hey there, Svanoy!
It looks like "trade goods," inexpensive tools/trinkets traded to the Noble Salvages (Native Americans, First Peoples) probably in the 18th or 19th centuries. I worked for the Anthropolical Collections of the University Of Connecticut (USA) where we had a number of these, or similar. They were associated with the Norris Bull Collection of Indian antiquities assembled from the wilds of Connecticut. HOWEVER, I personally own one which was in a building purchased from a blacksmith, very similar. It looks to be commercially manufactured, has a curved handle, and is useful for hacking at things like roots.
Personally, I believe what your doggies have excavated is an archaeological artifact from Native American/First Peoples days. No, it probably is not worth much commercially. Don't you wonder what it was traded for?
Do not share your conjecture with your wife/signifcant other.

I agree with polkapete, looks like a trade "tomahawk" from the 18th century. Primarily a weapon with other uses. Both the Cherokee and Shawnee had them as well as multiple other tribes, but those were the tribes that tangled most often with Kentucky settlers.